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Investment In Joint Venture
9 Months Ended
Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENT IN JOINT VENTURE

6. INVESTMENT IN JOINT VENTURE

The Company, through one of its wholly-owned subsidiaries, has a 50% interest of the joint venture entity, RE Ventures I, LLC, a limited liability company (“REV-I”). For the nine months ended September 30, 2021, the Company funded $2.0 million, associated with development costs to REV-I. For the nine months ended September 30, 2020, the Company funded $1.6 million, associated with development costs, including $0.6 million related to the initial investment in REV-I, that was included in accrued expenses on the consolidated balance sheets as of December 31, 2019. The Company did not provide any additional financial support outside of capital contributions to REV-I during the three and nine months ended September 30, 2021 and 2020. The Company held a 50% interest in the joint venture as of September 30, 2021. As of September 30, 2021, based on management’s analysis, the Company is not the primary beneficiary of REV-1 and accordingly, the entity is not consolidated in the Company's financial statements.

During the three months ended September 30, 2021 and 2020, the Company recorded its allocable share of REV-I’s losses, which totaled $0.3 million and $0.5 million, respectively and $1.3 million and $1.0 million during the nine months ended September 30, 2021 and 2020, respectively, as a loss on investment in joint venture within the condensed consolidated statements of operations and comprehensive loss. After recognition of its share of losses for the period, the carrying value and maximum exposure to risk of the REV-I investment as of September 30, 2021 and December 31,

2020, was $1.0 million and $0.3 million, respectively, which was recorded in investment in joint venture in the accompanying condensed consolidated balance sheets.